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CALGARY, ALBERTA--(Marketwire - Aug. 8, 2012) - Argonaut Exploration Inc. ("the Company") (TSX VENTURE:AGA), a company engaged in the exploration and development of precious and base metals near Terrace British Columbia, is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of up to 10 million Units priced at $0.05 per Unit. Pursuant to this closing, the Company will issue an aggregate of 4,637,500 Units for gross proceeds of $231,875. Each Unit consists of one common share ("Common Share") and one flow-through common share purchase warrant ("Warrant") of the Corporation. Each Warrant will entitle the holder to acquire one Common Share to be issued on a "flow-through" tax basis at a price of $0.10 until December 31, 2012. Additional tranches under this private placement will close shortly. |
